2013-10-24 16:00:04 [Message] fib_1618 -> Chat: good day2013-10-24 16:00:06 [Message] fib_1618 -> Chat: how is everyone?2013-10-24 16:01:48 [Message] fib_1618 -> Chat: OK...any questions or comments before we get started??2013-10-24 16:05:04 [Message] fib_1618 -> Chat: I want to take a moment to welcome Larry (larz) to the chat room!2013-10-24 16:05:18 [Message] fib_1618 -> Chat: if you have any questions please don't hesitate to ask as we move along2013-10-24 16:06:27 [Message] fib_1618 -> Chat: OK...let's get DP up and see what's going on2013-10-24 16:06:48 [Message] fib_1618 -> Chat: after failing to move to new highs on Tuesday2013-10-24 16:06:58 [Message] fib_1618 -> Chat: the CO NYSE breadth MCO moved lower on Wednesday2013-10-24 16:07:15 [Message] fib_1618 -> Chat: and we got an obligatory bounce higher today 2013-10-24 16:07:38 [Message] fib_1618 -> Chat: price pattern wise2013-10-24 16:07:51 [Message] fib_1618 -> Chat: we did not close yesterday's downside gap on the NYA price chart2013-10-24 16:08:04 [Message] fib_1618 -> Chat: which allows for at least one more back and fill day as soon as Friday2013-10-24 16:08:20 [Message] fib_1618 -> Chat: as far at the MCO is concerned2013-10-24 16:09:16 [Message] fib_1618 -> Chat: the MCO components at the bottom of the chart suggest that we'll likely show continued buoyancy in prices regardless of any near term sag in the price pattern2013-10-24 16:09:24 [Message] fib_1618 -> Chat: and looking at the NYSE CO breadth MCSUM2013-10-24 16:09:49 [Message] fib_1618 -> Chat: we remain on target in challenging our next level of natural resistance at the +750 level2013-10-24 16:10:05 [Message] fib_1618 -> Chat: with today closing with a +622 reading2013-10-24 16:10:18 [Message] fib_1618 -> Chat: moving to the NYSE Composite breadth MCO2013-10-24 16:10:34 [Message] fib_1618 -> Chat: and we see that we have a small point change tonight2013-10-24 16:10:52 [Message] fib_1618 -> Chat: so let's expect a dramatic move in the major market averages in the next two trading sessions2013-10-24 16:11:08 [Message] fib_1618 -> Chat: a dramatic move is of least 1%2013-10-24 16:11:29 [Message] fib_1618 -> Chat: and as we see with the current MCO structure2013-10-24 16:11:50 [Message] fib_1618 -> Chat: the interest rate sensitive issues that make up the NYSE are fairly strong right now2013-10-24 16:12:03 [Message] fib_1618 -> Chat: which suggests that interest rates are likely to sag further to the downside2013-10-24 16:13:03 [Message] fib_1618 -> Chat: keeping in mind that any close below 2.45% in the 10 year note will then provide a new downside target of 2.15%2013-10-24 16:13:33 [Message] fib_1618 -> Chat: currently we're at 2.52%2013-10-24 16:13:58 [Message] fib_1618 -> Chat: so we still have a bit of room still yet to go before we'll have any kind of trigger for that kind of event2013-10-24 16:14:33 [Message] fib_1618 -> Chat: notice also that the NYSE breadth MCSUM settled with a reading of +4672013-10-24 16:14:46 [Message] fib_1618 -> Chat: with any move above the +500 level providing us with "escape velocity"2013-10-24 16:15:15 [Message] fib_1618 -> Chat: to where prices can trend more freely without the hindrance of sellers holding back the action2013-10-24 16:15:27 [Message] fib_1618 -> Chat: also of note 2013-10-24 16:15:42 [Message] fib_1618 -> Chat: is that just above the +500 level we have horizontal resistance as well 2013-10-24 16:15:53 [Message] fib_1618 -> Chat: so any double break above these two levels2013-10-24 16:16:06 [Message] fib_1618 -> Chat: will then allow prices to move with more dynamics to the upside2013-10-24 16:16:23 [Message] fib_1618 -> Chat: looking at the 10% Trend component2013-10-24 16:16:41 [Message] fib_1618 -> Chat: and we see that with a reading today of +136 which is not anywhere near being "overbought" 2013-10-24 16:16:46 [Message] fib_1618 -> Chat: OH...2013-10-24 16:16:50 [Message] fib_1618 -> Chat: and before I forget2013-10-24 16:17:13 [Message] fib_1618 -> Chat: ISEE came in today with a 68 reading2013-10-24 16:17:29 [Message] fib_1618 -> Chat: so the speculative put buyers are once again trying to pick a top here2013-10-24 16:17:43 [Message] fib_1618 -> Chat: and this should add fuel to what is already a burning fire2013-10-24 16:18:10 [Message] fib_1618 -> Chat: moving to the NASDAQ breadth MCSUM2013-10-24 16:18:23 [Message] fib_1618 -> Chat: and we see that we have now arrived at horizontal resistance2013-10-24 16:18:40 [Message] fib_1618 -> Chat: so any further strength by the buyers 2013-10-24 16:18:52 [Message] fib_1618 -> Chat: will then allow prices to not only accelerate to the upside2013-10-24 16:19:24 [Message] fib_1618 -> Chat: but we will likely meet our upside price target of 4000 on the NASDAQ Composite that was given back in the spring of this year by the end of this month2013-10-24 16:19:38 [Message] fib_1618 -> Chat: currently we closed at 3929 today2013-10-24 16:19:51 [Message] fib_1618 -> Chat: so if we do get a 1% move there in the next two days2013-10-24 16:20:15 [Message] fib_1618 -> Chat: that would put us within spitting distance of this target at 39692013-10-24 16:20:47 [Message] fib_1618 -> Chat: the NDX breadth MCSUM is now challenging the +750 level settling today at +7512013-10-24 16:21:05 [Message] fib_1618 -> Chat: so we'll either accelerate higher from here or find some near term resistance in the pattern2013-10-24 16:21:13 [Message] fib_1618 -> Chat: and interestingly enough2013-10-24 16:21:38 [Message] fib_1618 -> Chat: both the NASDAQ and the NDX are both at important intermediate term junctures now2013-10-24 16:22:29 [Message] fib_1618 -> Chat: so any pop above these internal resistance points are likely to equal quite a bit of upside movement in prices as money begins to "recognize" the path of least resistance2013-10-24 16:23:11 [Message] fib_1618 -> Chat: notice also how the 10% Trend bounced higher today after "kissing" the 5% Trend on Wednesday2013-10-24 16:23:22 [Message] fib_1618 -> Chat: very typical technical action overall2013-10-24 16:23:26 [Message] fib_1618 -> Chat: in other words2013-10-24 16:23:43 [Message] fib_1618 -> Chat: yesterday provided a pull back buy point in the current advancing price structure2013-10-24 16:24:22 [Message] fib_1618 -> Chat: and those who took advantage of it, the percentages suggest that they will likely feel the benefits near term2013-10-24 16:24:43 [Message] fib_1618 -> Chat: small pop higher as well on the SPX breadth MCO2013-10-24 16:24:59 [Message] fib_1618 -> Chat: and notice that the SPX breadth MCSUM is now in its second day of being above the +500 level2013-10-24 16:25:21 [Message] fib_1618 -> Chat: though it still remains below horizontal resistance at this time2013-10-24 16:25:37 [Message] fib_1618 -> Chat: looking at the SPX close up price chart2013-10-24 16:25:54 [Message] fib_1618 -> Chat: and we see what looks to be a simple "pause to refresh" consolidation going on right now2013-10-24 16:26:06 [Message] fib_1618 -> Chat: and with little to show in correcting lower2013-10-24 16:26:18 [Message] fib_1618 -> Chat: not only should we see an upside break out of this pause2013-10-24 16:26:58 [Message] fib_1618 -> Chat: but it will tend to be more on the dramatic side given the lack of selling2013-10-24 16:27:22 [Message] fib_1618 -> Chat: small bounce higher as well with the OEX breadth MCO2013-10-24 16:27:44 [Message] fib_1618 -> Chat: with the OEX breadth MCSUM now only 77 data points away from challenging the +500 level2013-10-24 16:28:08 [Message] fib_1618 -> Chat: with any pop higher in the next two days should get us there 2013-10-24 16:28:35 [Message] fib_1618 -> Chat: good news for the Dow bulls as the Dow breadth MCSUM moved up and through its zero line today2013-10-24 16:28:49 [Message] fib_1618 -> Chat: and as we tend to see with this kind of violation2013-10-24 16:29:31 [Message] fib_1618 -> Chat: prices showed a nice amount of amplitude with the bulls now taking more control of the action2013-10-24 16:30:10 [Message] fib_1618 -> Chat: still...there's still a lot of work yet to do before we'll see new all time price highs in the pattern2013-10-24 16:30:34 [Message] fib_1618 -> Chat: but today's zero line cross is a good start towards that objective2013-10-24 16:30:54 [Message] fib_1618 -> Chat: small point change tonight on the MID breadth MCO2013-10-24 16:31:47 [Message] fib_1618 -> Chat: and the MID breadth MCSUM has now moved above the +800 level which now allows the pattern to see a likely challenge of the +1000 level2013-10-24 16:32:24 [Message] fib_1618 -> Chat: taking ruler to monitor here2013-10-24 16:33:03 [Message] fib_1618 -> Chat: and we see that we're still about 100 data points away from challenging the longer term declining tops line connecting the May and July tops2013-10-24 16:33:12 [Message] fib_1618 -> Chat: so, for now, steady as she goes2013-10-24 16:33:44 [Message] fib_1618 -> Chat: the SML breadth MCO also saw a pop higher 2013-10-24 16:33:55 [Message] fib_1618 -> Chat: and this will serve as a simple snapback to the +50 level2013-10-24 16:34:08 [Message] fib_1618 -> Chat: looking at the price chart2013-10-24 16:34:18 [Message] fib_1618 -> Chat: and we see that we once again closed at new all time highs today2013-10-24 16:34:44 [Message] fib_1618 -> Chat: and since the SML has been leading the market higher now over the last couple of weeks2013-10-24 16:35:01 [Message] fib_1618 -> Chat: this is a good indication on what the market's intentions might be as soon as Friday2013-10-24 16:35:19 [Message] fib_1618 -> Chat: the SML breadth MCSUM has also moved above the +750 level as well2013-10-24 16:35:45 [Message] fib_1618 -> Chat: so let's expect to see this indicator continue higher to or towards the +1000 as our next technical objective2013-10-24 16:36:06 [Message] fib_1618 -> Chat: this would mean, of course, that the buyers will remain pretty much in control of things until we get there2013-10-24 16:36:22 [Message] fib_1618 -> Chat: or to be more direct2013-10-24 16:36:29 [Message] fib_1618 -> Chat: the sellers have very little power right now2013-10-24 16:36:46 [Message] fib_1618 -> Chat: and won't have for the rest of the month2013-10-24 16:37:03 [Message] fib_1618 -> Chat: and a small point change on the TM breadth MCO2013-10-24 16:37:47 [Message] fib_1618 -> Chat: as the TM breadth MCSUM crossed above the +400 level today2013-10-24 16:37:49 [Message] fib_1618 -> Chat: so...2013-10-24 16:37:57 [Message] fib_1618 -> Chat: as we expected on Tuesday2013-10-24 16:38:37 [Message] fib_1618 -> Chat: the last couple of days was the market's way of taking a breather off of our mid range closes we saw that day2013-10-24 16:39:07 [Message] fib_1618 -> Chat: while we continued to build a nice base for another run to new highs that should take place by the time we meet again next Tuesday2013-10-24 16:39:15 [Message] fib_1618 -> Chat: let's look at the sectors2013-10-24 16:39:44 [Message] fib_1618 -> Chat: new all time high price close today in the XLY index2013-10-24 16:40:19 [Message] fib_1618 -> Chat: and this is an important clue as to the markets anticipating firm economic growth moving forward2013-10-24 16:40:24 [Message] fib_1618 -> Chat: you know...2013-10-24 16:40:42 [Message] fib_1618 -> Chat: I wonder if we'll ever have employment data include part time workers in the future2013-10-24 16:40:59 [Message] fib_1618 -> Chat: since the Government has killed the 40 hour week2013-10-24 16:41:06 [Message] fib_1618 -> Chat: many firms are hiring2013-10-24 16:41:24 [Message] fib_1618 -> Chat: but not for more than 20 or 30 hours a week because of ACA2013-10-24 16:41:31 [Message] fib_1618 -> Chat: no less2013-10-24 16:41:50 [Message] fib_1618 -> Chat: they don't have to give them the perks of breaks and lunches2013-10-24 16:41:59 [Message] fib_1618 -> Chat: which increases productivity2013-10-24 16:42:07 [Message] fib_1618 -> Chat: which keeps inflation in check2013-10-24 16:42:41 [Message] fib_1618 -> Chat: anyway..just thinking out loud given the strength we see in the discretionary sector2013-10-24 16:43:06 [Message] fib_1618 -> Chat: notice that the XLY breadth MCSUM is also at the edge of moving above the +500 level as well 2013-10-24 16:43:41 [Message] fib_1618 -> Chat: so any new higher highs we might see in the XLY breadth MCO will certainly set the tone for this basket of stocks probably right through the Thanksgiving holiday2013-10-24 16:44:22 [Message] fib_1618 -> Chat: we had a new all time high close in the XLP on Wednesday2013-10-24 16:44:26 [Message] fib_1618 -> Chat: while the rest of the market sagged2013-10-24 16:44:56 [Message] fib_1618 -> Chat: while the XLP breadth MCO continues to support a nice amount of texture with bottoms above bottoms continuing to control the pattern2013-10-24 16:45:49 [Message] fib_1618 -> Chat: intermediate term though, the buyers still a have bit more work to do in order to keep prices in the new all time highs territory2013-10-24 16:46:19 [Message] fib_1618 -> Chat: breakout and snapback now complete in the XLE price action2013-10-24 16:48:59 [Message] fib_1618 -> Chat: with the XLE breadth MCO finding natural support at the +25 level2013-10-24 16:49:11 [Message] fib_1618 -> Chat: as long as this level holds2013-10-24 16:49:45 [Message] fib_1618 -> Chat: this would indicate that we are developing a complex bullish structure above the zero line2013-10-24 16:49:59 [Message] fib_1618 -> Chat: and this should help propel prices to new all time highs over the near term2013-10-24 16:50:23 [Message] fib_1618 -> Chat: we also note that we cleared the +250 level on the XLE breadth MCSUM on Wednesday2013-10-24 16:50:53 [Message] fib_1618 -> Chat: so one could move long at these levels with a stop at .10 below today's intraday lows2013-10-24 16:51:27 [Message] fib_1618 -> Chat: the XLF breadth MCO also found support at the +25 level today2013-10-24 16:51:54 [Message] fib_1618 -> Chat: while the XLF breadth MCSUM is now challenging the important +500 level with a close today at +4922013-10-24 16:52:31 [Message] fib_1618 -> Chat: any further strength near term here would certainly go a long way in seeing prices accelerate to new highs 2013-10-24 16:52:52 [Message] fib_1618 -> Chat: with our current target of 25 as our short term objective2013-10-24 16:53:29 [Message] fib_1618 -> Chat: the XLV breadth MCO moved to a lower low today2013-10-24 16:54:06 [Message] fib_1618 -> Chat: and this would suggest that money is rotating out of this pool of stocks into something else...at least for now2013-10-24 16:54:11 [Message] fib_1618 -> Chat: looking at the price pattern itself2013-10-24 16:54:26 [Message] fib_1618 -> Chat: and we have another one of these ascending triangle configurations 2013-10-24 16:54:46 [Message] fib_1618 -> Chat: where we usually see an upside breakout from the pattern2013-10-24 16:55:02 [Message] fib_1618 -> Chat: near term though2013-10-24 16:55:18 [Message] fib_1618 -> Chat: it's bothersome that we had a rally failure in attempting to make new price highs2013-10-24 16:55:27 [Message] fib_1618 -> Chat: and then showed a lower MCO reading 2013-10-24 16:55:39 [Message] fib_1618 -> Chat: usually, under this kind of circumstance2013-10-24 16:55:52 [Message] fib_1618 -> Chat: we're likely to chop around for a couple more days before trying again2013-10-24 16:56:04 [Message] fib_1618 -> Chat: so we'll see how this plays out near term2013-10-24 16:56:24 [Message] fib_1618 -> Chat: new all time closing highs today in the XLI index2013-10-24 16:56:58 [Message] fib_1618 -> Chat: and we also moved perceptively to new highs in the XLI breadth MCO with these same price highs2013-10-24 16:57:24 [Message] fib_1618 -> Chat: unlike last week where we were seeing this sector fall behind the rest of the market2013-10-24 16:57:39 [Message] fib_1618 -> Chat: we now see a new attention coming into this arena2013-10-24 16:57:58 [Message] fib_1618 -> Chat: and since this basket of stocks is closely related to the Dow Industrials and Dow Transports2013-10-24 16:58:16 [Message] fib_1618 -> Chat: we should expect to see both of these averages continue to gain more and more momentum to the upside2013-10-24 16:58:18 [Message] fib_1618 -> Chat: btw2013-10-24 16:58:30 [Message] fib_1618 -> Chat: the Transports were above the 7000 level earlier in the day today2013-10-24 16:58:34 [Message] fib_1618 -> Chat: let me check to see where they closed2013-10-24 16:58:46 [Message] fib_1618 -> Chat: 70222013-10-24 16:58:55 [Message] fib_1618 -> Chat: so new all time highs there2013-10-24 16:59:39 [Message] fib_1618 -> Chat: and the heavy weight of the index, FED EX, is leading the charge there at new all time highs of its own2013-10-24 16:59:54 [Message] fib_1618 -> Chat: closing today at 1312013-10-24 17:00:37 [Message] fib_1618 -> Chat: the XLB breadth MCO continues to show bullish character in its structure2013-10-24 17:00:47 [Message] fib_1618 -> Chat: as it bounced off the +50 level today2013-10-24 17:00:59 [Message] fib_1618 -> Chat: meanwhile2013-10-24 17:01:12 [Message] fib_1618 -> Chat: the XLB breadth MCSUM moved up and through the +500 level today2013-10-24 17:01:45 [Message] fib_1618 -> Chat: and with the outside range day today 2013-10-24 17:02:04 [Message] fib_1618 -> Chat: we should see another probe into all time high territory in the index as soon as Friday2013-10-24 17:02:44 [Message] fib_1618 -> Chat: the XLK breadth MCSUM is now at +750 resistance with a close today of +7472013-10-24 17:03:10 [Message] fib_1618 -> Chat: so any further strength there will then allow prices to extend into new recovery high territory2013-10-24 17:03:19 [Message] fib_1618 -> Chat: let me check again the upside target on this one..2013-10-24 17:03:46 [Message] fib_1618 -> Chat: ummmm...2013-10-24 17:03:49 [Message] fib_1618 -> Chat: we just cleared it today2013-10-24 17:04:18 [Message] fib_1618 -> Chat: and there's nothing between here at the 33.50 level and the 50 level2013-10-24 17:04:33 [Message] fib_1618 -> Chat: so this one is also shaping up to be a good play2013-10-24 17:04:38 [Message] fib_1618 -> Chat: in fact2013-10-24 17:04:51 [Message] fib_1618 -> Chat: as we've talked about many times over the last couple of years2013-10-24 17:05:17 [Message] fib_1618 -> Chat: the two sectors that will probably lead us to higher price highs during this sequence are the ones that no one wants to even consider...the financials and tech2013-10-24 17:05:43 [Message] fib_1618 -> Chat: so here we have another low risk entry point2013-10-24 17:05:58 [Message] fib_1618 -> Chat: with any initial stop .10 below yesterday's intraday lows2013-10-24 17:06:33 [Message] fib_1618 -> Chat: and the XLU breadth MCO continues to trace out a complex bullish structure above its zero line2013-10-24 17:07:19 [Message] fib_1618 -> Chat: as the price pattern now looks to be "stair stepping" to the upside on the back of breaking out of its longer term symmetrical triangle seen on the daily chart2013-10-24 17:07:43 [Message] fib_1618 -> Chat: with the objective there of around the 41 level2013-10-24 17:07:46 [Message] fib_1618 -> Chat: so...2013-10-24 17:07:57 [Message] fib_1618 -> Chat: we see that the market continues to gain strength overall2013-10-24 17:08:16 [Message] fib_1618 -> Chat: and there's enough of it right now to keep prices from declining in any important way2013-10-24 17:08:30 [Message] fib_1618 -> Chat: with any break to new highs in the next couple of days2013-10-24 17:09:05 [Message] fib_1618 -> Chat: extending the time line of when our next likely event of a top of more than a pause to take place to around the Thanksgiving period2013-10-24 17:09:24 [Message] fib_1618 -> Chat: which, this year, falls on November 28th2013-10-24 17:09:30 [Message] fib_1618 -> Chat: so the end of November2013-10-24 17:09:46 [Message] fib_1618 -> Chat: let's see how the volume McClellan's are doing2013-10-24 17:10:19 [Message] fib_1618 -> Chat: the NYSE CO and Composite Volume MCO's look stable 2013-10-24 17:10:28 [Message] fib_1618 -> Chat: but the NASDAQ volume MCO continues to look a bit weak here2013-10-24 17:10:53 [Message] fib_1618 -> Chat: and this has pushed the NASDAQ volume MCSUM to lower lows2013-10-24 17:11:12 [Message] fib_1618 -> Chat: so with the current reading of +7612013-10-24 17:11:27 [Message] fib_1618 -> Chat: the buyers will need to step in by Monday 2013-10-24 17:11:43 [Message] fib_1618 -> Chat: or we're likely to see a pullback that would last more than a day2013-10-24 17:12:04 [Message] fib_1618 -> Chat: as we look at the 1 year price chart of the NASDAQ2013-10-24 17:12:13 [Message] fib_1618 -> Chat: we can see how it continues to stretch out to the upside2013-10-24 17:12:23 [Message] fib_1618 -> Chat: showing that the path of least resistance remains strong at this time2013-10-24 17:12:33 [Message] fib_1618 -> Chat: in fact2013-10-24 17:12:40 [Message] fib_1618 -> Chat: it's currently above a 45 degree angle2013-10-24 17:12:56 [Message] fib_1618 -> Chat: and when we get above this degree of strength2013-10-24 17:13:00 [Message] thespookyone -> Chat: do we really want to come very far through that 750 summation, though?2013-10-24 17:13:40 [Message] fib_1618 -> Chat: it's going to take quite some time for the opposing side to provide enough damage to where a change in trend can actually take place2013-10-24 17:13:56 [Message] fib_1618 -> Chat: as long as we remain above the +500 level Lew2013-10-24 17:14:11 [Message] fib_1618 -> Chat: prices can continue to gain amplitude2013-10-24 17:14:17 [Message] fib_1618 -> Chat: think of it this way2013-10-24 17:14:22 [Message] thespookyone -> Chat: OK, thx2013-10-24 17:14:31 [Message] fib_1618 -> Chat: if the shuttle is at 200 miles above the planet2013-10-24 17:14:48 [Message] fib_1618 -> Chat: it doesn't need as much energy, fuel, to move to 210 miles above the planet2013-10-24 17:15:00 [Message] fib_1618 -> Chat: as it would moving from 175 miles to 185 miles2013-10-24 17:15:15 [Message] fib_1618 -> Chat: the closer we get toward gravity's influence2013-10-24 17:15:42 [Message] fib_1618 -> Chat: the more fuel that's needed to keep this same upside direction in motion2013-10-24 17:15:57 [Message] fib_1618 -> Chat: and as you can see on the MCSUM chart2013-10-24 17:16:18 [Message] fib_1618 -> Chat: we haven't been below the +400 level for quite some time now2013-10-24 17:16:22 [Message] fib_1618 -> Chat: and still prices continue to rise 2013-10-24 17:16:32 [Message] fib_1618 -> Chat: the lower the MCSUM goes2013-10-24 17:16:49 [Message] fib_1618 -> Chat: it just takes more effort for prices to build on what they've already accomplished2013-10-24 17:16:55 [Message] fib_1618 -> Chat: instead of streaking higher, for example2013-10-24 17:17:01 [Message] fib_1618 -> Chat: they will tend to chop higher2013-10-24 17:17:19 [Message] fib_1618 -> Chat: notice too 2013-10-24 17:17:40 [Message] fib_1618 -> Chat: that every test of the +450/+500 area provided a significant bounce in prices2013-10-24 17:17:56 [Message] fib_1618 -> Chat: so until the sellers can show enough imbalance to break this support2013-10-24 17:18:06 [Message] fib_1618 -> Chat: the path of least resistance will remain higher2013-10-24 17:18:25 [Message] thespookyone -> Chat: yep. guess I wasn't liking the MCO sub zero along with it..2013-10-24 17:18:33 [Message] fib_1618 -> Chat: moving to the NDX volume MCO2013-10-24 17:18:38 [Message] fib_1618 -> Chat: and you can see what our problem is2013-10-24 17:18:45 [Message] fib_1618 -> Chat: it's the top 100 issues of the NASDAQ2013-10-24 17:18:48 [Message] fib_1618 -> Chat: now...2013-10-24 17:19:01 [Message] fib_1618 -> Chat: it isn't so much Apple right now as it is NetFlix2013-10-24 17:19:09 [Message] fib_1618 -> Chat: Google is also strong2013-10-24 17:19:28 [Message] fib_1618 -> Chat: so it's probably something like a sector or two causing the problems right now2013-10-24 17:19:32 [Message] fib_1618 -> Chat: so you have Biotech2013-10-24 17:19:38 [Message] fib_1618 -> Chat: and you have tech2013-10-24 17:19:48 [Message] fib_1618 -> Chat: if tech is holding up its end2013-10-24 17:19:54 [Message] fib_1618 -> Chat: then it's likely the the other2013-10-24 17:19:59 [Message] fib_1618 -> Chat: let me take a look at the index2013-10-24 17:20:37 [Message] fib_1618 -> Chat: well2013-10-24 17:20:53 [Message] fib_1618 -> Chat: the XBI was down 13% in 3 days two weeks ago2013-10-24 17:20:58 [Message] fib_1618 -> Chat: so I guess that's part the problem2013-10-24 17:21:14 [Message] fib_1618 -> Chat: or at least2013-10-24 17:21:18 [Message] fib_1618 -> Chat: it's not helping the situation2013-10-24 17:21:26 [Message] fib_1618 -> Chat: but meanwhile2013-10-24 17:21:58 [Message] fib_1618 -> Chat: the foreign index that's comparable to the NASDAQ, the DAX, closed at new all time highs today2013-10-24 17:22:06 [Message] fib_1618 -> Chat: and it's A/D line is also at all time highs2013-10-24 17:22:16 [Message] fib_1618 -> Chat: so I'm not too worried here2013-10-24 17:22:19 [Message] fib_1618 -> Chat: besides2013-10-24 17:22:29 [Message] fib_1618 -> Chat: with all the strength in growth area in September2013-10-24 17:22:46 [Message] fib_1618 -> Chat: a pull back as money moves to value isn't too surprising2013-10-24 17:22:49 [Message] fib_1618 -> Chat: in any event2013-10-24 17:22:54 [Message] fib_1618 -> Chat: at face value2013-10-24 17:23:02 [Message] larz -> Chat: Any thoughts on XAU?2013-10-24 17:23:25 [Message] fib_1618 -> Chat: this weakness in the volume MCO's is not helping prices keep up with the large, mid and small caps2013-10-24 17:23:41 [Message] fib_1618 -> Chat: the XAU's A/D line remains near 7 1/2 lows2013-10-24 17:24:06 [Message] fib_1618 -> Chat: so much of the rally going on in the precious metals right now is more currency related than anything else2013-10-24 17:24:22 [Message] fib_1618 -> Chat: the metals are always an excitable asset class anyway2013-10-24 17:24:48 [Message] fib_1618 -> Chat: but, at this time, much what we're seeing there is corrective and not trending2013-10-24 17:24:53 [Message] thespookyone -> Chat: I would add that the dollar is approaching multi-year support levels2013-10-24 17:25:03 [Message] fib_1618 -> Chat: let's take a look at that2013-10-24 17:25:54 [Message] fib_1618 -> Chat: well...the key there is the 71 level2013-10-24 17:25:59 [Message] fib_1618 -> Chat: and we're not even close to that2013-10-24 17:26:08 [Message] fib_1618 -> Chat: being at 792013-10-24 17:26:14 [Message] fib_1618 -> Chat: but we do have to consider2013-10-24 17:26:25 [Message] fib_1618 -> Chat: that with the Bonds continuing to move higher here2013-10-24 17:26:41 [Message] fib_1618 -> Chat: and the possibility of continued strength yet to come2013-10-24 17:27:01 [Message] fib_1618 -> Chat: the only way this would take place is if the US economy remains sluggish2013-10-24 17:27:23 [Message] fib_1618 -> Chat: as gold has not indicated at all that the FED has been stimulating the market2013-10-24 17:27:46 [Message] fib_1618 -> Chat: this is one of those times in which we should try not to figure out why things are what they are2013-10-24 17:28:06 [Message] fib_1618 -> Chat: but to just follow money's leadership and wait to what the reasons are later on2013-10-24 17:28:16 [Message] fib_1618 -> Chat: so...right now2013-10-24 17:28:19 [Message] fib_1618 -> Chat: based on breadth2013-10-24 17:28:28 [Message] fib_1618 -> Chat: gold is in a counter trend rally2013-10-24 17:28:40 [Message] fib_1618 -> Chat: commodities are firming and about to move higher2013-10-24 17:29:02 [Message] fib_1618 -> Chat: debt is also in counter trend mode 2013-10-24 17:29:07 [Message] fib_1618 -> Chat: and equities are bullish2013-10-24 17:29:27 [Message] thespookyone -> Chat: yep2013-10-24 17:29:36 [Message] fib_1618 -> Chat: and when that changes...we will as well2013-10-24 17:30:04 [Message] fib_1618 -> Chat: small point change in the SPX volume MCO2013-10-24 17:30:10 [Message] fib_1618 -> Chat: and still above its zero line2013-10-24 17:30:46 [Message] fib_1618 -> Chat: and this is happening with the higher weighted caps in the NDX showing little in the way of support2013-10-24 17:31:22 [Message] fib_1618 -> Chat: zero line bounce today in the MID volume MCO2013-10-24 17:31:33 [Message] fib_1618 -> Chat: while the MID volume MCSUM is now challenging its +500 level2013-10-24 17:32:08 [Message] fib_1618 -> Chat: so some commitment by the buyers is needed, here and now, or we'll likely see a multi day back and fill event in this basket of stocks2013-10-24 17:32:22 [Message] fib_1618 -> Chat: and then you get to the SML volume MCO2013-10-24 17:32:40 [Message] fib_1618 -> Chat: and the strength there is surprising given the weakness in the MID and NDX2013-10-24 17:32:50 [Message] fib_1618 -> Chat: but it's keeping things from coming apart2013-10-24 17:33:02 [Message] fib_1618 -> Chat: and as we know all too well2013-10-24 17:33:23 [Message] fib_1618 -> Chat: it's not likely that we're going to see a price top if we see the SML showing this kind of strength of pattern2013-10-24 17:33:51 [Message] fib_1618 -> Chat: and the TM volume MCO is back below its zero line with a -8 reading2013-10-24 17:33:57 [Message] fib_1618 -> Chat: so one side is about to take control2013-10-24 17:34:19 [Message] fib_1618 -> Chat: if we look at breadth, it says the bulls should grab the ring2013-10-24 17:34:43 [Message] fib_1618 -> Chat: but they will need to get better conviction in the amount of money they are willing to commit towards this goal2013-10-24 17:35:00 [Message] fib_1618 -> Chat: or we'll not likely top out around the beginning of the month2013-10-24 17:35:01 [Message] fib_1618 -> Chat: for now2013-10-24 17:35:25 [Message] fib_1618 -> Chat: we still look like we have enough behind us to continue to move higher until the end of this month2013-10-24 17:35:28 [Message] fib_1618 -> Chat: that hasn't changed2013-10-24 17:35:31 [Message] fib_1618 -> Chat: now...2013-10-24 17:35:37 [Message] fib_1618 -> Chat: before we look at the volume oscillators2013-10-24 17:35:39 [Message] fib_1618 -> Chat: and the TRIN2013-10-24 17:36:31 [Message] fib_1618 -> Chat: the one advantage of these weaker volume MCO's against the stronger breadth MCO's is that we're likely to see deeper "oversold" readings in the Open 10's2013-10-24 17:36:34 [Message] fib_1618 -> Chat: so let's take a look2013-10-24 17:36:51 [Message] fib_1618 -> Chat: CVI's are neutral2013-10-24 17:37:17 [Message] fib_1618 -> Chat: but we have now relieved the "overbought" condition in the STVO's2013-10-24 17:37:18 [Message] fib_1618 -> Chat: however2013-10-24 17:37:30 [Message] fib_1618 -> Chat: it's nowhere near neutral either2013-10-24 17:37:58 [Message] fib_1618 -> Chat: so based no this we're "allowed" for another day or two of chop before we see a upside resumption2013-10-24 17:38:12 [Message] fib_1618 -> Chat: the VTO's are gaining strength here as we expected on Tuesday2013-10-24 17:38:20 [Message] fib_1618 -> Chat: but they're not "overbought" as yet2013-10-24 17:38:27 [Message] fib_1618 -> Chat: so if the Open 10's are "oversold"2013-10-24 17:38:39 [Message] fib_1618 -> Chat: we still have enough fuel in the tank to make a difference2013-10-24 17:38:50 [Message] fib_1618 -> Chat: NYSE TRIN at 1.002013-10-24 17:39:05 [Message] fib_1618 -> Chat: Open 10 now close to being highly "oversold" at 1.062013-10-24 17:39:20 [Message] fib_1618 -> Chat: so we've moved from just north of neutral to minimally "oversold" in two trading days2013-10-24 17:39:26 [Message] fib_1618 -> Chat: while at the same time2013-10-24 17:39:31 [Message] fib_1618 -> Chat: prices have consolidated2013-10-24 17:39:41 [Message] fib_1618 -> Chat: this is what we refer to as "correcting on the fly"2013-10-24 17:40:00 [Message] fib_1618 -> Chat: and it provides a bullish undertone to our analysis2013-10-24 17:40:14 [Message] fib_1618 -> Chat: NASDAQ TRIN at 1.452013-10-24 17:40:27 [Message] fib_1618 -> Chat: Open 10 now at 1.182013-10-24 17:40:33 [Message] fib_1618 -> Chat: and deeply "oversold"2013-10-24 17:40:48 [Message] fib_1618 -> Chat: so taking this together with the NASDAQ volume MCO and NDX volume MCO2013-10-24 17:41:09 [Message] fib_1618 -> Chat: one could say that buying at these levels not only has little downside risk2013-10-24 17:41:20 [Message] fib_1618 -> Chat: but you would be buying at wholesale pricing2013-10-24 17:41:38 [Message] fib_1618 -> Chat: hard to imagine with our being near 13 year recovery highs2013-10-24 17:41:46 [Message] fib_1618 -> Chat: but this is the imbalance that we're working with2013-10-24 17:41:52 [Message] fib_1618 -> Chat: wow2013-10-24 17:42:01 [Message] fib_1618 -> Chat: today's NASDAQ TRIN was 1.452013-10-24 17:42:20 [Message] fib_1618 -> Chat: down from yesterday's 2.28 reading2013-10-24 17:42:36 [Message] fib_1618 -> Chat: anytime we get a reading above 2.00 in an advancing trend, that is a buy signal2013-10-24 17:42:59 [Message] fib_1618 -> Chat: as we have all of the willing and unwilling selling the market for whatever the reason might be2013-10-24 17:43:37 [Message] fib_1618 -> Chat: so those holding the QQQ long positions should feel pretty good about that2013-10-24 17:43:49 [Message] fib_1618 -> Chat: TM TRIN at 1.252013-10-24 17:43:59 [Message] fib_1618 -> Chat: Open 10 at 1.192013-10-24 17:44:08 [Message] fib_1618 -> Chat: so...2013-10-24 17:44:31 [Message] fib_1618 -> Chat: although we have a couple of pistons out of sync here2013-10-24 17:44:40 [Message] fib_1618 -> Chat: the blueprint here says long and strong for now2013-10-24 17:44:49 [Message] fib_1618 -> Chat: and let the sellers prove themselves2013-10-24 17:45:14 [Message] fib_1618 -> Chat: and even if they show up 2013-10-24 17:45:26 [Message] fib_1618 -> Chat: they're not going to have much in the way of power here2013-10-24 17:45:31 [Message] fib_1618 -> Chat: which means2013-10-24 17:45:49 [Message] fib_1618 -> Chat: pullbacks are to be used as buy points...at least for the time being2013-10-24 17:45:52 [Message] fib_1618 -> Chat: let me check the BETS2013-10-24 17:46:22 [Message] fib_1618 -> Chat: heck...just on sentiment alone, there's no real reason to sell here2013-10-24 17:47:19 [Message] fib_1618 -> Chat: the TSX remains on fire2013-10-24 17:47:28 [Message] fib_1618 -> Chat: BETS is at +602013-10-24 17:47:41 [Message] fib_1618 -> Chat: a +65 would be our first all out buy signal in a while2013-10-24 17:47:51 [Message] fib_1618 -> Chat: so we'll see how it settles on Friday2013-10-24 17:47:55 [Message] fib_1618 -> Chat: anything else?2013-10-24 17:48:29 [Message] fib_1618 -> Chat: were you able to follow along Larry...do you have DP??2013-10-24 17:49:30 [Message] fib_1618 -> Chat: let me check the ETF's - one sec2013-10-24 17:49:53 [Message] fib_1618 -> Chat: aerospace is flying high! 2013-10-24 17:50:47 [Message] fib_1618 -> Chat: cyclical issues2013-10-24 17:51:11 [Message] fib_1618 -> Chat: dividend stocks2013-10-24 17:51:28 [Message] fib_1618 -> Chat: transportation stocks2013-10-24 17:52:21 [Message] fib_1618 -> Chat: so many gaps in the gold chart right now2013-10-24 17:52:31 [Message] fib_1618 -> Chat: makes me nervous when I see that on any chart2013-10-24 17:53:03 [Message] fib_1618 -> Chat: home builders are gaining strength2013-10-24 17:53:13 [Message] fib_1618 -> Chat: another clue that rates are likely to move lower from here2013-10-24 17:53:23 [Message] fib_1618 -> Chat: home construction as well2013-10-24 17:53:37 [Message] fib_1618 -> Chat: industrials2013-10-24 17:53:43 [Message] larz -> Chat: Yes, thx Dave2013-10-24 17:54:03 [Message] fib_1618 -> Chat: REITS are picking up steam here2013-10-24 17:54:11 [Message] fib_1618 -> Chat: watch the A/D line on that one over the weekend2013-10-24 17:54:31 [Message] fib_1618 -> Chat: retail2013-10-24 17:55:07 [Message] fib_1618 -> Chat: ouch - the semi's got hit yesterday...anyone know the reason why?2013-10-24 17:55:28 [Message] fib_1618 -> Chat: telecom2013-10-24 17:56:03 [Message] fib_1618 -> Chat: don't look now2013-10-24 17:56:23 [Message] fib_1618 -> Chat: but the CBOE is up 7% in 3 weeks2013-10-24 17:56:42 [Message] fib_1618 -> Chat: BIG upside move in the NDAQ just yesterday2013-10-24 17:57:09 [Message] fib_1618 -> Chat: and up 17% since the beginning of September2013-10-24 17:57:17 [Message] fib_1618 -> Chat: so daily volume doesn't seem to be a problem2013-10-24 17:57:20 [Message] fib_1618 -> Chat: just the plurality2013-10-24 17:57:49 [Message] fib_1618 -> Chat: Dow Composite Index closed at new all time highs today2013-10-24 17:58:09 [Message] fib_1618 -> Chat: Airlines continue to fly2013-10-24 17:58:24 [Message] fib_1618 -> Chat: and I just don't understand how they are filling those planes with the higher fares2013-10-24 17:58:27 [Message] fib_1618 -> Chat: well2013-10-24 17:58:29 [Message] fib_1618 -> Chat: I do know2013-10-24 17:58:31 [Message] fib_1618 -> Chat: because 2013-10-24 17:58:37 [Message] fib_1618 -> Chat: they have cut back so many flights2013-10-24 17:58:47 [Message] fib_1618 -> Chat: that, of course, they're filling up the planes!2013-10-24 17:59:09 [Message] fib_1618 -> Chat: broker/dealers look strong2013-10-24 17:59:11 [Message] fib_1618 -> Chat: watch GS over the next couple of days2013-10-24 17:59:56 [Message] fib_1618 -> Chat: boy...computer disk drives took a tumble this week2013-10-24 18:00:16 [Message] fib_1618 -> Chat: down 8% in 3 days2013-10-24 18:00:53 [Message] fib_1618 -> Chat: defense is strong2013-10-24 18:01:28 [Message] fib_1618 -> Chat: drugs as well2013-10-24 18:01:55 [Message] fib_1618 -> Chat: and that's about it2013-10-24 18:01:58 [Message] fib_1618 -> Chat: anything else?2013-10-24 18:02:32 [Message] fib_1618 -> Chat: and this just came from CNBC2013-10-24 18:02:58 [Message] fib_1618 -> Chat: "the stock market is as overbought as it's ever been, and that doesn't really seem to be bothering many people"2013-10-24 18:03:13 [Message] fib_1618 -> Chat: let's see what fundamentalist said this..2013-10-24 18:03:30 [Message] fib_1618 -> Chat: Jeff Cox2013-10-24 18:03:36 [Message] fib_1618 -> Chat: who is Jeff Cox?2013-10-24 18:04:13 [Message] fib_1618 -> Chat: anyway...it's always fun to see CNBC try to act like a technician2013-10-24 18:04:18 [Message] fib_1618 -> Chat: 2013-10-24 18:04:23 [Message] fib_1618 -> Chat: OK...if there's nothing else2013-10-24 18:04:25 [Message] fib_1618 -> Chat: I'm gong to take off2013-10-24 18:04:29 [Message] fib_1618 -> Chat: everyone have a great weekend2013-10-24 18:04:36 [Message] fib_1618 -> Chat: and we'll see how things are shaking on Tuesday2013-10-24 18:04:38 [Message] fib_1618 -> Chat: good night__________________Dave's LinkedIn Profile

"As for it being different this time, it is different every time. The question is in what way, and to what extent" - Tom McClellan

"An economist is someone who sees something happen, and then wonders if it would work in theory" - Ronald Reagan

"What we see depends mainly on what we look for" - John Lubbock

"The eye sees only what the mind is ready to comprehend" - Henri Bergson

“Answers are easy; it’s asking the right questions which is hard” - Dr. Who - 1977

"You know the very powerful and the very stupid have one thing in common - they don't alter their views to fit the facts, they alter the facts to fit their views (which can be uncomfortable if you happen to be one of the facts that needs altering)" - Dr. Who - 1977

Insert Photos

Web address (URL)

Image URL

If your URL is correct, you'll see an image preview here. Large images may take a few minutes to appear.
Remember: Using others' images on the web without their permission may be bad manners, or worse, copyright infringement.